How to Calculate Office for Lease Accounting Company

The accountant of an office leasing company certainly has a lot of expenses that need to be taken care of. So how is accounting work calculated?

Prepaid payment for office accounting

In this way, the unit will pay the entire office rent in advance according to the provisions of the contract. Accordingly, you will have to comply with the agreed rental term strictly. If you want to continue renting after that, the two parties will jointly make a new office lease contract. When implementing prepaid office leasing services, you will need to pay attention to the terms of Dr 331, credit 111,112.
In addition, if you cannot afford to pay all at once, you can make a deposit in advance. Party B will keep the deposit to ensure the performance of the contract. Note that the receipt of the deposit must issue an invoice to ensure the interests of both parties. After the agreed period, the unit will have to pay the entire cost of office rental to Party B.

Postpay

This method allows startups to plan costs after the period of use. For example, with a 6-month office lease contract, only the 6th month needs to be paid. At this time, the lessor can issue an invoice. This is an advantage for small units to reduce the initial burden of rental costs. However, it would help if you also were very careful to avoid being late for the contract.
Monthly accounting: Dr 154, 627, 641,642,… There are 335 expenses incurred but not yet paid.
When paying or receiving invoices: Debit account 335, Credit account 111,112 if paying. Debit account 331 if receipt of invoice.

Paying rent several times in advance in office accounting

This way is illustrated specifically: Party A rents party B’s house from January to June, pays 1 time in January, and has not yet received an invoice. Or when receiving an invoice, the calculation will be as follows:

• Dr 242: Total amount
• Dr. 133, has accounts 331, 111, 112
• For the periodic allocation of the prepayment, depending on the rental purpose, the plan is as follows:
• For Debit account: Debit account 154, account 627, account 641, account 642,…
• For Credit account: Have account 242

Accounting services for office rental companies by month

Most office rental units want to choose this method. Because when paying monthly, the amount will be distributed, the unit will not have to worry about paying a large amount. Besides, accounting is also much simpler. Each month the unit will receive an invoice for payment. Depending on the purpose of the tenancy, you will proceed with the planning on the following terms:
Dr. 154, 627, 641, 642,…

Currently, using a package accounting service is a suitable choice with modern trends. Businesses look to package accounting services because of their agility in timely updating of changes in legal documents, professionalism, and efficiency that package accounting services bring. In addition, the package accounting service fee is much lower than that of businesses having to recruit their accountants, which is also the highlight of this type of service.

You can read the previous article here: Office for Lease Accounting Company

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